The real estate market here in Evansville Indiana does not always follow the national trend. We are in a fortunate situation that our market is sheltered and we do not have the extreme ups and downs as in other markets. However, the trend that: “Demand Strong for Well-Prices Homes” does apply to our local market. Homes that have been updated and are in move-in condition and that are priced right, will sell faster.
Demand Strong for Well-Prices Homes
Yes, houses will sell as long as they are priced right. In many — but not all places — that means they’re priced low.
"People who price their homes to the market are selling them in a reasonable amount of time, but people who cling to 2004 or 2005 prices aren't," says Richard Smith, president and CEO of Realogy, the parent company of Century 21, ERA, Coldwell Banker and Sotheby's International Realty.
In some areas, pent-up demand has exploded. "It's crazy," says Brendon DeSimone, an associate with Paragon Real Estate in the Noe Valley near San Francisco. "I had one house with five offers, and it went from $1.4 million to $1.7 million. The valley has just popped. It's not uncommon for one open house to have 200 people come through."
Source: USA Today, Stephanie Armour (07/28/2010)